Saturday, June 30, 2012

One of many reasons to like Gina Rinehart

I tweeted a week ago:

"Perhaps for Fairfax the only thing the only thing worse than Rinehart could be no Rinehart."

She has millions of her dollars invested in the business. If I had any of my money in there I'd be hoping she shakes things up and makes the business work. She's certainly trying. She just sent a rocket up Fairfax chairman Roger Corbett.

I have good opinions of Corbett, he managed Woolies brilliantly, I feel. But Gina's not happy.

But in her three page letter, her major tangible complaint was in the way Fairfax has announced that it will lose around 2000 staff, but over a three year time frame:

In that one paragraph at the top, Rinehart shows me she understands running a business. No "salting the soil and pulling out the plants" for her. She knows that he is choosing the perfect way to strip out their best human assets and leave them with what's left.

Would I enjoy working with - or for - Rinehart? Possibly not. But from where I sit, I am developing a similar grudging, detached respect as I had for Kerry Packer, Murdoch and Keating. I wouldn't have worked for them, either

- Posted using BlogPress from my iPad

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